CHAPTER II 
The Postal Savings Bank Act of 1910 
Passing now from the general arguments 
which played an important rôle in the agitation 
for a postal savings bank system in the United 
States, we may consider the chief provisions of 
the organic act, which was passed by Congress in 
June, 1910, paying some attention, wherever it 
would be helpful, to the legislative history of the 
provision. These provisions will be taken up in 
the following order: administrative organization; 
deposits and withdrawals ; rate of interest on de 
posits; and disposition of funds, including invest 
ment, and deposit in banks. Under the last item 
will be considered the question of the constitu 
tionality of a postal savings system, a subject 
closely related to that of the investment of funds. 
Administrative Organization 
For “the control, supervision, and administra 
tion of the postal savings depository offices” and 
of the funds received on deposit, the act created 
a Board of Trustees consisting of the Post-